Post by 68hx.1806Hey, you kind have to be "rich" to buy a new-ish 3/2 in
the burbs these days. THERE AREN'T THAT MANY "RICH"
PEOPLE, not even close. So, WHERE IS THE MONEY COMING
FROM ???
Bank loans ? CLUE from the LAST property bubble - a LOT
of people CAN'T afford those payments. Private funds ?
Where'd all that disposable money come from ???
Somewhere I suspect a Chinese program behind a lot
of this ... an "Un-House America" program which will
also cripple a lot of banks.
People with good credit snapped them up in huge numbers for cheap in 2009-2012. They're
still doing it as the housing market prices out working people as homeowners. Nephew is a
long haul trucker. That used to be a good paying job. He can barely afford the rent on a
two bedroom one bath for himself, wife and two kids. Says he's going to have to move into
a trailer.
You don't have to be rich to buy multiple homes and rent them out, you just have to have
credit in good standing and a minimal down.
Remember all those 'get rich in real estate' schemes that were so popular?
They work. It's called free market capitalism.
Swill
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